December Allsop

It’s a funny old country we live in - being seen at the Allsop auction is like being seen in the enclosure at Ballybrit.

Recently retired civil servants and folks who fancy themselves as the next Sean Fitzpatrick falling over themselves to buy property at Allsop. From what I’ve seen, the dregs that nobody wants are being sold off to the inexperienced and the wildly optimistic.

If you were a cash buyer in 2011/2012, Allsop was brilliant. Now, there’s nothing in the catalogue but odds and ends. All the nice property is owned by NAMA and/or put through the estate agencies for top dollar.

I’m surprised there weren’t a lot more such auctions over the last few years - it seems in Ireland if you don’t pay your debts, you get to hold on to your assets.

Without giving too much away, I know one guy who lives in a €4m gaff in Dublin (which he bought with his former socialite girlfriend). Hasn’t paid anything since 2007. Still living in it. I also know of a farmer in Waterford who “leveraged” his €30m farm and lost everything - he’s still farming away getting EU grants, etc. Then there are the 100,000s of “ordinary people” who have split mortgages and are on interest only - many are living in very large and comfortable dwellings. Their kids will have an inheritance of a giant duck egg to look forward to. I see my “younger” (mid 20s to mid 30s) colleagues who earn about €2k a month (after tax) and are paying rent of €1k (even more in some cases!). Don’t know why they even bother showing up to be honest. I wouldn’t.

It’s all utter madness. The arse is going to fall out of this economy.

May as well link the Auction anyways

Two Auctions in December 2014:
Commercial: 10am / Tuesday 9th Dec / RDS, Dublin
Residential: 9am / Thursday 11th Dec / RDS, Dublin

Over 200 ‘residential’ properties

Just watching the live stream here.


I’m truly shocked at some of the prices being paid.

€340k for a shop in Leitrim.

It would seem the cash buyer is still alive and well.

5.2% yield

Disagree. It’s only their cash they are burning, unlike the bubble where they were getting other peoples’ cash to do it.

That’s a fair point.

Congrats to the seller.

Why does someone’s sex matter? If you have the cash; nobody gives two hoots what’s between your legs.

It is not what is between their legs but what is between their ears that is at issue.

Agreed. There’s always a rad fem nutter in the audience who has to bring “gender” into everything.

I think Mantissa was asking the question ‘why’, rather than commenting that sex matters?
It is sort of strange alright. Maybe there are men there representing couples?

Probably builders. Not many Irish women willing to lift buckets of cement up 4 flights. They generally prefer “office jobs”.

Apart from the dublin stuff most of the sales appeared reasonable.
most sub 50K.
MacMansions for <100k

My mate used to live upstairs in that building before it was converted to offices. Surprised it’s still standing tbh.

Smart and ballsy

Beware of Carrie Mc Savvie :smiling_imp:

It’s the last chance to buy before the CGT exemption runs out.

For the love of God.

Perhaps you could get state funding to analyse the gender imbalance in post feminist contemporary society? In the evenings, you could go along to Mary Robinson foundation wine dos and volunteer for Ivana Bakic’s election campaign.

Aren’t you great.

When you burn your bra on a South Dublin protest, does that count as a deductible expense?

From other EAs I’ve heard there’s a bit of a panic on at the minute to get binding contracts signed before the 31st.

Can I presume you’re seeing the same?